Sunday, February 28, 2010

Trouble Ahead for our Economy

The Congress of South African Trade Unions (Cosatu) in Gauteng on Saturday said it supported calls by the ANC Youth League (ANCYL) to nationalise the country's mines.

"The call by the ANCYL is proper and very progressive in this instance," said provincial secretary Dumisani Dakile, following a two-day meeting of the federation's provincial executive committee.

The committee would introduce the nationalisation debate at Cosatu's central executive committee meeting, set to take place in Johannesburg from March

1 to 3.Nationalisation had long been on the agenda of the federation, he said."In fact, the call of the youth league is in support of Cosatu."

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Well now then this will be the start of a very slippery slope much like that of Zimbabwe’s demise into economic oblivion. It’s a short hop from the mines to the banks and then business. This is nothing more than a new ploy by some very clever government individuals to get there grubby hands on more wealth. Nationalisation is nothing more than theft and wherever it has happened in the world it is associated with corruption and wholesale mismanagement.

It will lead to job loss and ultimately the failure of our economy as disinvestments will happen as no body in there right mind will invest in a country where nationalisation is on the cards. I am afraid if these people who are using the workers and dumb masses to push their agenda are not stopped we will be in for a rocky road ahead